🔲 How do you use the Fibonacci tool in trading?
🔴Using the Fibonacci tool in trading (Fib Extension).
🔴The Fibonacci tool can be used in trading in different ways, and we will now explain how to use Fib Extension. It is a tool somewhat similar to the first tool.
🔴This tool helps you predict future price peaks. The Retracement tool helps you determine the retracement points at which you can enter, or this point helps you set future goals.
🔴We highly recommend using this tool only in the long term, not the short term, due to whales’ continuous pursuit of controlling the markets. This means that we stick to the weekly range only. Below you will see the most popular settings that this tool is set to: #EarnFreeCrypto2024 .
🔴The picture above shows us applying this law to the Ethereum currency on a weekly level. We started from the bottom that was formed in October 2023, then at the top that was formed in March, and then finally we returned to the bottom again, and the result was the figure above #Ripple .
🔴Also notice the same three important points, which are 0.382, 0.5, and 0.618, and how the price has returned to approximately touching the 0.5 point before rebounding. If a weekly close occurs this week, this means the continuation of the upward trend and it is possible that we will see Ethereum above 5000$ before the end of the year.